Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Government has no solutions to tackle risks to economy

David Parker
Spokesperson for Finance

12 June 2014

Government has no solutions to tackle risks to economy

The National Government has no solutions to tackle the serious risks to the economy identified by the Reserve Bank today, Labour’s Finance spokesperson David Parker says.

“Reserve Bank Governor Graeme Wheeler this morning highlighted falling dairy prices, declining log exports, strong immigration and high house price inflation as factors threatening the economic recovery. The Governor also noted that the exchange rate was at an unsustainable level.

“The quarter-point rise in the Official Cash Rate to 3.25 per cent means mortgage interest rates are well on their way towards 9 per cent.

“These pressures will add to the increasing cost of living. Kiwis know times are tough when 46 per cent of working New Zealanders have had no increase in their wage rate in the past year.

“National’s tool box is empty.

“Conversely, Labour has ideas to curb all these risks.

“Interest rates are going up because house prices are out of control in Auckland.

“Labour will take the pressure off house prices by clamping down on speculators, taxing capital gains, building 100,000 affordable homes and banning foreign buyers from purchasing houses.

“Our economic upgrade in the forestry sector will transform log exports from volume to value and create sustainable jobs in the process.

“Under Labour’s universal KiwiSaver there will be more savings and less inflation. Lower interest rates will take the pressure off the exchange rate which will mean more well-paying jobs.

“Labour has the answers that are needed. We will work with industry, boost investment and support innovation to create better jobs and higher wages,” David Parker says.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

"To Help Families Get Ahead": April 1 Changes Kick In

Prime Minister John Key says Paid Parental Leave, the parental tax credit, the minimum wage and Superannuation will increase, while average ACC levies will fall, and more people will be helped in to home ownership...

“The National-led Government has focused on ensuring gains from our growing economy flow through to families and these measures demonstrate that.” More>>

 

PARLIAMENT TODAY:

Climate: Ministers Exclude Emissions From ‘Environment Reporting'

The National Party Government has today revealed that the national environmental report topics for this year will, incredibly, exclude New Zealand’s greenhouse gas emissions, the Green Party said today. More>>

ALSO:

No Retrial: Freedom At Last For Teina Pora

The Māori Party is relieved that the Privy Council has cleared the final legal hurdle for Teina Pora who was wrongfully convicted of murder and sent to prison for 22 years. More>>

ALSO:

Germanwings Crash: Privacy Act Supports Aviation Safeguards In New Zealand

Reports that German privacy laws may have contributed to the Germanwings air crash have prompted New Zealand’s Privacy Commissioner to reassure the public that the Privacy Act is no impediment to medical practitioners notifying appropriate authorities to a pilot’s health concerns. More>>

ALSO:

Treaty: Taranaki Iwi Ngāruahine Settles Treaty Claims For $67.5mln

The settlement includes a $13.5 million payment the government made in June 2013, as well as land in the Taranaki region. The settlement also includes four culturally significant sites, the Waipakari Reserve, Te Kohinga Reserve, Te Ngutu o te Manu and Te Poho o Taranaki. More>>

ALSO:

Gordon Campbell: On A Funeral In Asia, The Northland By-Election, And News Priorities

Supposedly, New Zealand’s destiny lies in Asia, and that was one of Foreign Minister Murray McCully’s rationales for his bungled reforms at MFAT. OK. So, if that’s the case why didn’t Prime Minister John Key attend the state funeral on Sunday of Singapore’s founding leader Lee Kuan Yew? More>>

ALSO:

Werewolf Satire: Not Flag-Waving; Flag-Drowning

The panel choosing the flag options has no visual artists at all. Now, I’ve kerned the odd ligature in my time and I know my recto from my French curve so I thought I’d offer a few suggestions before they get past their depth. More>>

ALSO:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news